Bogo not Bogof

We’ve all heard of Bogof offers…Buy One Get One Free. Nothing wrong with that, but the related
concept of Bogo – Buy One, Give One – could give your offering a point of difference which boosts sales. As an
example, let’s say you take your 5 year old daughter to buy a dress. Instead of a Me-Me-Me! Buy one get one free
offer, when she buys the dress, she’s presented with a card which she can write for the recipient of an identical
dress somewhere in the third world.

Isn’t that a lot nicer? Might that encourage you to shop at the
store offering that, than its more materialistic neighbour? In the right areas, I think it might.

Is there some way you could incorporate a Bogo offer into your
business?

Loyalty Doesn't Pay

Catching up on my press reading, I note today that Which? is echoing
a story we ran recently that ‘loyalty doesn’t pay’. When it comes to motor insurance, Which? says that 30 per
cent of motorists simply accept their insurance renewal quote. They’re unwise as Which? estimates that some
60 per cent of people can find a cheaper deal by shopping around. The average saving is £58. Which? adds the
proviso that motorists should not base their choice solely on price; for example, cheaper policies may not
cover legal costs, personal injury or a replacement car during repairs etc.

Confused.com has also confirmed what we’ve been saying for a while
now – that home insurance providers are ‘cashing-in’ on customers’ loyalty. Gareth Kloet at Confused.com
says, "It is startling that so many people have felt forced into taking home insurance with their mortgage
provider or banks; customers are being duped into uncompetitive deals. And it seems the fear and
misunderstanding doesn’t end after they’ve bought the policy with many believing they need to remain with
their home insurance provider to get the best deals. It’s paramount that customers understand loyalty does
not pay. A customer won’t get points or prizes for remaining loyal. In fact, they’re likely to pay more."
Enough said – shop around.

Student Town Property Boom

Putting my money where my mouth is, my property portfolio is in
student towns. For me, these are very solid investments both in terms of capital growth and rental returns.
So I was pleased to see the weekend press has been full of stories that having students in town pushes up
prices. The best example given is Aberdeen where prices have risen by some 40 per cent since 2005.

Fixed Energy Deals

Earlier in the summer, we advised members to consider getting on to
a fixed energy deal as the best of these were starting to be scrapped. One or two papers are now running a
similar story. The key fact from this is that, according to Energyhelpline.com, the cheapest fixed deals have
risen by 5 per cent over the past two weeks. From what I can see, OVO's New Energy deal is currently the
cheapest fixed energy offer on the market. Thomas Lyon at uSwitch.com says, “Consumers should act sooner
rather than later to make sure they are paying as little as possible for their energy.” Where next? Shop
around via these sites - Energychoices.co.uk is another to give you three to check for the best spread of
deals.

Funniest Joke?

"I've just been on a once-in-a-lifetime holiday. I'll tell you what,
never again."

Tim Vine - won the funniest joke award at the Edinburgh
Festival today.

Get Online Now!

The average UK shopper spent £81 in July. That’s 18% up on the same
month last year, and a total of £5bn. Did any of it end up in your bank account?

Go back just a few years and it was very difficult for the average
man or woman to get into selling stuff to the public. You needed premises, capital and a whole boat load of
other stuff. Today, you can be up and running and touting your wares online by this time tomorrow – and from
scratch – if you put your mind to it.

Every day I hear from folk desperate to make some extra cash.
They’re looking for ‘a secret’. Well the secret could have been staring them in the face all along. It’s a
secret which has been around for centuries…Buy stuff cheaply, and then sell it at a profit. The only
difference today, is that the channels of both supply and demand are open to anyone or everyone at the push
of a few buttons.

If you’re spending online, but not selling, you’re missing out on
the biggest opportunity every gifted on a plate to the would-be
entrepreneur.

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